Peter,
The point setting can be measured two different ways. One uses a gap gauge and sets the distance between the two little faces in thousandths of an inch.
The other method uses a meter..a dwell meter, to electronically measure the number of degrees the distributor rotor rotates while the points are closed. This value is given in degrees.
While the points are closed, the coil is 'saturating', or sort of filling up with electricity, getting ready to dump all that power across the spark plug gap when the points open...BAM!!
Tune up specs for engines usually include both a point gap and a dwell angle so you could set the points with either a gap gauge or a dwell meter.
I don't know what the dwell on one of these old engines would be.
Remember the Chevy V-8's with the little trap door on the distributor cap. You could pop your Allen wrench into the screw and adjust the dwell as the engine ran....very cool and accurate!
So dwell is the number of degrees of rotation of the distributor rotor that the points stay closed...just a high-tech way of gapping your points.
Do you have any friend or neighbor that has a 6 volt six cylinder engine you could hook your tach up to and verify whether the unit is goofy, or your truck has a problem.
They actually wrote a children's song about this subject...The Farmer In The Dwell!!
Stuart